to seal a four one win with twenty five goals action heroes is now all time top scorer in the bundesliga. still to come on the w. after years of turmoil german steals are interesting for the set for a major restructuring the company splits in two parts names a new c.e.o. we'll talk to him live in just a few minutes. that's coming right up with helena humphries. i'm not laughing at well because sometimes i am but most are loving with that even germany thinks deep into the german culture up here you don't seem to get this grandmother you go it's all that who they know i'm rachel join me to meet the japanese monkey to host. time for an upgrade. our furniture that grows on buying. a house with no room.

for design highlights you can make yourself. known stoops and tricks that will turn your home and special. upgrade yourself with g.w.s. interior design channel on you tube. it's a good day for canada says prime minister justin trudeau off to the country agree to join a trade deal with the u.s. and mexico the us mexico canada agreement to set your place what used to be known as a now. and crisis averted for now coffee years of turmoil german steel giantess and coke splits into names a new c.e.o. will be talking to him on the program. this is your biz. this update i'm headed

home free in berlin thanks for joining me the united states and canada have agreed to a deal to replace the north american free trade agreement that's according to a us administration official who said it will go by a new name that being the united states mexico canada agreement canada had risked being frozen out of the deal reached between the u.s. and mexico to update now to but eleventh hour talks between also and washington guaranteed that all three of us will be in the new version of the trade pact is erroneous or is it a good deal very is it a good deal for going to good day for canada ok i'm certainly not justin trudeau was in good spirits after a cabinet meeting in ottawa once the final stumbling blocks had been removed there will be no tariffs on the two point six million cars that are made in canada and sold in the u.s. but there was still no sign of an agreement on tariffs on canadian steel and only minium exports canada says the deal is good because the country can also go to an

independent referee when it has a trade dispute with the u.s. and does not have to subject itself to u.s. courts that part of the old nafta treaty survived the name however will not the acronym nafta is dead as u.s. president donald trump repeatedly called it the worst deal maybe ever signed the new name is the united states mexico canada agreement and the government in washington says it's been able to negotiate a much better deal for american farmers as canada gave in to u.s. demands to open up its highly protected dairy market something american politicians have pushed for a long time. in mexico the government was relieved that the new free trade deal comprises all north american countries we are very pleased to announce now that this remains a trilateral agreement an agreement in which mexico the united states and canada have successfully renegotiated and modernize the disciplines that were found in the north american free trade agreement or nafta. the us and

mexico had already agreed to a new deal in august mexico accepted that more industrial production will take place in the u.s. to protect american jobs all three governments are relieved that a last minute compromise has been reached as the three economies are highly interwoven the deal just in time production in many different industries is now safe. i'm joined now by my colleague aaron tilton aaron cho is hailing this deal as a success is it well certainly from his perspective i would say it is a major success you have to remember donald trump has always prided himself on being a deal maker i mean if you really look at his political career short as it may have been up to now he's always expressed extreme skepticism when it comes to international organizations and multilateral agreements you know he came in the on the policy scene that he was going to eat the throat nafta or completely rewrite it he was going to do it on his own terms so in terms of a policy standpoint this really is

a success for him because basically he went to canada he went to mexico he gauge for his peers people engage in direct diplomacy and he managed to get individual deals which kind of circumvent the multinational free trade agreements that have always been kind of a thorn in his eye so i suppose the question is really how different is this new deal from nafta well that kind of remains to be seen i mean not a lot has come out so far we haven't seen the official text of the deal being published up to this point but as we heard the report right now is some of the canadian markets will be open for american farmers especially the dairy industry which has long been protected by by canadian government policies we've also seen some some acquiesces made in comes to cars and how many cars will be able to be sent to the united states free of exports actually raise that slightly but when it comes down to the really nitty gritty we're going to have to wait and see exactly what is in this in this deal when it's released a congress leader well right and you will be covering that story for us our until to and from the business thank you very much and your feet. is one of the most

radical shake ups at a big german company in decades to some cope says it's mohnish to stick a of a need a ship in strategy crisis that's all for a supervisory board filled its top two management posts late on sunday and approved plans to states that the company in two you took out cough was approved as the new c.e.o. for the next five years we'll be speaking to him in just a moment to find out way plans on taking the company which has faced months of turmoil. this is how the german industrial giant likes to present itself innovative with an eye to the future but the steel and industrial component producer is having to take drastic action to see that future come to pass european steel prices plunged in two thousand and eleven after cheap chinese steel began to flood world markets to soon cope was hit hard by the low commodity prices leading

to liquidity issues and a twenty seven percent drop in its share price it now thinks splitting into two companies will help it deal with a changing market the supervisory board approved the measure over the weekend the plan will see one company taking over the steel and construction material production which has almost forty thousand employees and a turnover of about eighteen billion euros the second company will inherit to some groups elevator and automotive component business with around ninety thousand employees and sales of around sixteen billion euros interim c.e.o. care call for head both companies for the long term unions and employee representatives have given their blessing as no jobs will be lost but it could take up to eighteen months before the shareholders decide at a general meeting whether they agree with the split after all experts expect restructuring costs of around one billion euros for more let's go directly to s. and now and he pointed to some cut c.e.o.

joins us thank you for joining us mr cat coughed say two new companies which are supposed to be more nimble does this nice set up mean there are job cuts to come. no out of this new set up there will have been split in two companies we will not have major layoffs we have a lot of performance improvement programs that are in place and that we announced a couple of months ago that we will continue but the split itself will not create additional job cuts which we have confirmed together with the unions that there will be no forced dismissals we've agreed with them about what why this move now because some major investors were reportedly the biggest proponents of the split saying it would well essentially unlock major value for shareholders so is this the right move you will fear employees and your customers as well. i think definitely it's a right move and it's continuing the change of the portfolio overall that we have

already started seven years ago never forget we have already changed forty percent of our revenues over the last years with the deals on stainless steel joint venture and the exit of the steel americas now we will continue and focus more individually on the strength of the two businesses meaning on the material side and on the industrial side and give them a proper setup that they can benefit from their strength and even perform better in the market environment so i think it is a very good solution for all involved parties it's good for the employees because we create better and financially stronger companies that will give them a better outlook going forward on the other hand with splitting the share into now former shareholders will have a material share of those group industrial shareholders will benefit from the value upside that is intrinsic in this as well so i think it is a very good solution for all involved parties but just to go back to your point i mean this is something that's been discussed for the past seven years and the

company has seen years of turmoil i mean just encrypts managements face a lot of criticism as well in the past have been too slow to act where do you see the main challenges coming now globally. globally we have to see where the trends are but the global economic environment although carney people are talking about paul civil downturns in some regions we are still in a very positive and strong environment overall the u.s.b. of europe and even china is on good growth rates although people discuss that they might be lower in the future so we've seen a stronger development based on that we see mega trends towards more bigger cities and more transportation and traffic everywhere and this is where we definitely can participate with our elevator business with our components business for the older. industrial technology business overall being it's a man plants being

a writer where else so we think we can participate here in a very good way in the new set up i just want to jump in to talk about those possible downturns though around the world because it's difficult to ignore then and with that in mind how soon can you as the new c.e.o. help the company return to profitability. we are profitable first of all i mean if you take a look we have improved our profitability over the last year six times and we have a guidance of a significant improvement of our net income so we are on a good truck i think it's rather concerns that people do have around the balance sheet on the strength of it and the financial situation but not so much on the profitability so we have seen improvements and we have given out profitability improvement programs that we launched two months ago where we clearly say how we want to continue and where we do see it going and much of that we have on our own hands we don't depend on the markets because we have to have as it will get

competition i'm afraid we're out of time mistake either capped off just encrypts c.e.o. but thank you very much indeed. and just one last item you know mosque founder of the electric called make a test of will step down as chairman of the company a softer approach by the u.s. securities and exchange commission concluded that musk misstep investors with tweets about the company plans for a massive stock buyback test are a must have agreed to pay a multimillion dollar fine but must will remain as the show off the company. say absolutely lights from the world of business more coming up in the next hour.

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super. to do. a very good causes funding into active exercises are available and d.-w. dot com slashdot on facebook in the app store. to learn german for free with the devil you. hello and the welcome to pop explored analyst zero and i'm here to ring you the best the fromage are menu coming up on this show. their money bank abandoned do not sob close and personal. the third thing.